Landbay cuts rates and launches new 55% LTV range for BTL landlords

Specialist buy to let lender Landbay has announced a 0.10% reduction across its standard five-year fixed rate products, as well as the launch of a new 55% loan-to-value (LTV) range.

The lender said the rate cuts and the new range were designed to support brokers in meeting the diverse needs of their landlord clients.

The standard five-year fixed range now starts at 4.85%, with all products stressed at payrate and available through Landbay’s variable fee structure.

The new 55% LTV range also offers rates starting at 4.85%.

Landbay’s product range can accommodate loan sizes from £30,000 to £1.5 million.

The lender’s upgraded buy to let affordability calculator allows intermediaries to view and compare all available products.

‘Responding quickly to changes in the market’

Landbay’s business development director, Rob Stanton, said: “Responding quickly to changes in the market remains an absolute priority for us as we look to support brokers through a broad and competitive range of products.

“Having the technology and ability in-house to react at pace is a key component in making this a reality.

“As affordability remains a challenge for both brokers and borrowers, we firmly believe mechanisms such as our variable fee structure present a valuable proposition.”

He added: “While it may not suit all appetites, it’s a great way to for brokers to maximise the borrowing potential of their clients in a difficult climate.

“Combine this with the stress test at payrate, a range of LTVs and acceptable loan sizes and we believe the range helps brokers support their clients.”

BTL mortgage product highlights include:

• Standard property 5 Year fixed rate – up to 55% LTV @ 4.85% with 7% fee
• Standard property 5 Year fixed rate – up to 65% LTV @ 4.95% with 7% fee (for loans from £1M to £1.5M)
• Standard property 5 Year fixed rate – up to 70% LTV @ 4.95% with 7% fee
• Standard property 5 Year fixed rate – up to 75% LTV @ 5.15% with 6% fee.

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below: